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(Dave Bedard photo)
Markets

Deal for Subway chain worth up to US$9.55 billion

Arby's, Jimmy John's parent wins with 'earn-out' deal

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New York | Reuters — Private equity firm Roark Capital agreed on Thursday to buy Subway, in a deal that people familiar with the matter said values the U.S. sandwich chain at up to US$9.55 billion, including debt, subject to targets in its financial performance. The deal marks the conclusion of a drawn-out auction that
(Dave Bedard photo)
Markets

Subway reportedly nears sale to Arby’s owner

Chain's parent firm considering sale since February

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Reuters — Roark Capital, which owns restaurant chains Arby’s and Buffalo Wild Wings, is nearing a deal to buy sandwich chain Subway for about US$9.6 billion, the Wall Street Journal reported Monday. A deal could be finalized this week, the report said, citing people familiar with the matter. “Subway does not intend to make any
(Dave Bedard photo)
News

Subway can be sued over its tuna, U.S. judge rules

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A U.S. federal judge said Subway can be sued for allegedly deceiving customers about its tuna products, including a claim it uses other fish species, chicken, pork and cattle instead of the advertised “100 per cent tuna.” U.S. District Judge Jon Tigar in San Francisco called it premature to accept Subway’s argument that any presence
(Subway video screengrab via YouTube)
Crops, Pulses

Subway, McDonald’s expand Beyond Meat rollouts in Canada

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Major fast-food chains McDonald’s and Subway are both expanding their rollouts of plant-based Beyond Meat products in Canada, beyond the range of their initial tests. McDonald’s Canada announced Wednesday it will expand the test marketing of its “P.L.T.” burger from its 28 stores in London, Ont. to also include 52 in Kitchener-Waterloo, Guelph and surrounding
U.S. meat substitute processor Beyond Meat is testing its products in meatball style in Subway’s Beyond Meatball sub. (CNW Group/Subway Restaurants)
Crops, Pulses

Subway to test-market plant-based ‘meatball’ subs

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The world’s biggest fast food chain by number of outlets plans to test-market plant-based meat substitute at some of its Canadian and U.S. restaurants starting next month. Subway on Wednesday announced a “culinary innovation partnership” with Los Angeles-based processor Beyond Meat, beginning with a “Beyond Meatball Marinara” submarine sandwich to be tested at 685 Canadian
(Dave Bedard photo)
Livestock

Subway says it shut hundreds of U.S. restaurants last year

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Reuters — U.S. sandwich chain Subway Restaurants said on Thursday it shut 359 restaurants in the U.S. last year, amid stiff competition in a highly fragmented fast-food industry. Subway, owned by Doctor’s Associates, is the world’s largest fast-food chain by number of restaurants. It had 26,744 locations operating in the U.S. at the end of
(Dave Bedard photo)
Livestock

Subway to switch to cage-free eggs by 2025

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Reuters — Sandwich chain Subway said it would stop using eggs laid by caged hens in its North American outlets by 2025, joining a number of companies that are going cage-free amid pressure from consumers and animal-rights groups. Subway, which already serves eggs laid by free-range hens at its outlets in Europe and eggs laid

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